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the rate of labor productivity growth in the US economy

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Between Dec. 2007 and Dec. 2008, measured RGDP in the economy fell by 1% as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 3.7% and the unemployment rate rose sharply from 4.6% to 7.2%

What can you infer from this data about the rate of labor productivity growth in the US economy during this period?

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The rate of labor productivity growth in the US economy is discussed.

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If we assume that the economy was at full employment in December 2007, then we can answer this question. Between December 07 and December 08 the US real GDP shrank by 1%. Total employment hours declined by 3.7% and the unemployment ...

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